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class as well. it would probably work. but it is a huge controversy from the taxes. ... thank you for taking my call. independent because most of us americans have caught onto the big blame game. , andeach blame each other basically they are on the same team. they have different ways to go about it. my main problem is the epa. we are giving him close to $8 million, and it'll do nothing for us. they let the fracking industry go unregulated, they let solar management go unregulated. they are spraying our skies, trying to dim the sun to fight global warming. nobody knows about it. 02 global sky watch and you can find out all aut i i o knowre i i want to know where is the epa protecting us from this, his name is david frum nasa and he wants to spray and he has been spraying our sunlight dependent. >> host: zachary goldfarb, i know you don't cover epa specifically but the president, climate change is part of the agenda this year. >> guest: that's right and the president is putting money into funding and he proposes billions of dollars for climate research and for related endeavors. epa
to hear before turning in your taxes. and.... the company that orchestrated the most famous re-tweet ever... first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's wednesday, march 5th i'm angela miles. in today's first look: the s&p rises to a new record high as the standoff between russia and the ukraine becomes "less tense". it's the 49th record set by the index. the dow- also had a positive reaction jumping 228 points, the nasdaq 75 and the s&p 28 gold scaled back $15 dollars and oil.. $1.63. caterpillar's ceo says he is guardedly optimistic about the global economy...which added into the buying blitz on wall street. and the power of the plug. yesterday we told you about the fuel cell stock plug power that surged 24% monday well on tuesdays it rallied 15% more.. trader daniel stecich of athena advisor services joins us now. there was a collective sigh of relief in the market yesterday but will that continue? >>i think it will. you have to put what happened in russia behind us and if you look at what happe
back. stay with us. thinking up game-changing ideas, ke this: dozens of tax free zones across new york state. move here. expand here. start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax fr plan. there's on one way for yo business to go. . lou: all day, fox business has been focused on the business of boomer retirement. a survey shows it is out of reach for far too many americans, 58% of workers, age 60 and older have to put off their retirement. mostly because of financial reasons, good news that down from a pike of 66 percent in 2020. new fed chair yellen testifying before senate banking committee told them central bank would probably continue to taper while trying to figure out how much research weakness in the economy is because of the see winter weather, market, responding %-posting a new record high,&p. joining us now. chief economist from moody's capital, john lonski, janet yellen seems to have slid into her well rarefied chair, is doing brilliantly it seems. >> i think she is doing very well. market likes her, up 1% for year
up game-changg ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. wi new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com we are thinkers. the job jugglers. the up all-nht and the ones who turn ideas into action. we've made our passions our life's wk. we strive for the moments where we can s, "i did it!" ♪ we are entrepreneurs whstarted it all... with a signature. legalzoom has helped start over 1 million businesses, turning dreamers into business owners. and we're re toelp start yours. lou: a record day on wall street, dow up 74,&p up 9, closing at all-time record high, nazdaq up 2 and cde oil lost 19 cents on the day. gold up $4,. >> yield on 10 year, falling further, down to .64%. -- 2.64%, steers sears stock up more than 6% today. retailer posted tter than expected earnings a nice rprise, and freddie mac will repay the treasury more than $10 billion with total payments no
-murray, it is paid for with spending cut and tax reforms. it is deficit neutral. supporting what the president said in the state of the union, there is a series of programs to create jobs. it lays out $302 billion infrastructure proposal that is paid for with pro-growth tax. it strengthens the manufacture base and supports groundbreaking research to fight disease, protect the environment and develop new technology. it enhances the administration's management efforts to deliver a government that is more efficient and supportive of economic growth. and it will expand opportunity for all-americans. it doubles the maximum value of the earned income tax credit to encourage people to enter the workforce. and makes high quality preschool available to every four year old. and drive workforce training. it will focus on the primary drivers of long term debt and deficits. it builds on the forms of the affordable care act and continues to slow health care cost growth while improving the quality. it will curb tax breaks that benefit the wealthiest. it calls for pro-growth immigration reform. the deficit has bee
donald's. it will be expanding the earned tax credit. it is the government's largest program targeted as low income americans. >> the earned income tax credit was first introduced by president ford and has been expanded by democrats and republicans alike because it provides an incentive to work. president reagan called it the country's best anti-poverty and jobs creation bill ever to come out of the u.s. congress, and it was a key part of president clinton's welfare to work program. the basic way the earned a tax credit worked is this an eligible worker will earn a tax credit for every dollar he or she makes. a formula determines how much a worker ultimately receives under the program's caps. that amount the worker receives is then applied to taxes. for example, if someone owed $700 in taxes and has a credit of $900 they would get a refund of $200. working families with children currently stand to benefit the most. they qualify for a credit if they earn under 38,000 to $51,000. generally a salary increase the credit lowers. a married couple with two children making $45,000 would be eligible for a credit of
of the most outrageous tax loophole in america. will he actually do it this year? jeanne moos shows us the latest workout trend. >> nice job, nice job. so we talked about her options. her valuable assets were staying. and selling her car wouldn't fly. we helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today...and tomorrow. so let's see what we can do about that... remodel. motorcycle. [ female announcer ] some questions take more than a bank. they take a banker. make a my financial priorities appointment today. because when people talk, great things happen. make a my financial priorities appointment today. she loves a lot of it's what you love about her. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical
to cut taxes to workers who don't have children. >> let's make this a year of action. >> reporter: following his state of the union, president obama is taking action with his 2015 budget, the people who would benefit low wage workers. for years it has only been workers with children who benefited from the earned income tax credit. under the president's proposal that tax break would expand to those without children. he wants to double a childless worker's tax credit to about $1,000 a year, to offset the cost of the new tax break, the president is proposing an end to an old tax break to the wealthy. that move is projected to garner some $60 billion over ten years. the president is also proposing full-time workers with kids get a bigger tax credit to cover child care costs. he wants to make preschool available for all four year olds. and the tax credit for college tuition, he wants to make that permanent. and proposing funding to upgrade aging highway systems across the country. the plan is expected to help 13.5 million americans. erika pitzi, al jazeera. >>> comes up on al jazeera a
of shutterstock. >> "market makers" is back in a couple of minutes. credit suisse in testimony over taxes. >> brady dougan is in the hot seat. ♪ >> live from bloomberg headquarters in new york, this "mark and make -- "market makers." inbuying more real estate puerto rico. we will tell you why this is track -- attracting a lot of attention and what it means for the economy. plane new republican tax promises to track taxes at just 25%. will a simple -- >> hollywood "house of cards." how the gains have changed. hollywood's biggest stars are out there lobbying for one-on-one. welcome back. i am stephanie ruhle. >> i am erik schatzker. it is 11:00 on wednesday. >> i want george clooney knocking on my door with the dvd and a bag of popcorn in his hands thank him let's watch this movie together. >> right now in washington, it is uncertain -- uncle sam versus switzerland. the subcommittee is holding a hearing today to give the u.s. government names of american citizens who might have used those swiss bank accounts to avoid taxes. senator john mccain caught -- called the inquiry a joke. he would
seeking tax exempt status. this after the inspector general found 298 applications had been singled out for special review including 100% of groups with tea party or patriot in their name, but only 30% of groups with progress or progressive. now republican congressman darrell issa, chair of the powerful house oversight committee wantslern s lerner to testify again wednesday. chairman issa, welcome back. >> thanks for covering what we believe is going to be a good fact finding hearing. >> well, let's talk about that. because when you recalled lois lerner under subpoena to testify again this coming wednesday, her lawyers said you you can call her, but she won't testify or answer any questions, continue to at that time fifttaat that t. >> her attorney indicates how that she will testify. we've been back and forth negotiation. wi believe the evidence we've gathered causes her in her best interests to testify. >> so lowislerner who took the fifth last may will testify before your committee? >> according to her attorney. >> this will be on wednesday? >> it will be on wednesday. >> what change
one direction: up so we're up eay. up late. thinking up game-changing ideas, like this: dozens of tax fr zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, w opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at srt-upny.com what is this place? where are we? this is where we bring together the fastest internet and the best in entertainment. we call it the x1 entertainment operating system. it looks like the future! we must have encountered a temporal vortex. further analytics are necessary. beam us up. ♪ that's my phone. hey. [ female announcer ] the x1 entertainment operating system, only from xfinity. tv and internet together like never before. which will cause me to miss the end of the game. the x1 entertainment operating system lets your watch live tv anywhere. can i watch it in butterfly valley? sure. can i watch it in glimmering lake? yep. here, too. what about the dark castle? you call that defense?! come on! [ female anno
someone, he actually reformed the tax policy -- and i look a little pink. should i consider spray tanning? this is "bloomberg surveillance ." live from world headquarters in new york. friday before the oscars on sunday. scarlet fu can barely contain herself. joining me are scarlet fu and adam johnson. >> i've got to go by the chips and dip. >> the only problem is you have to be up at 2:00 a.m. monday morning. time for the morning brief. what happened overnight. ecb president mario draghi said policymakers are committed to defending the euro area against inflation. this was in a speech late yesterday in frankfurt. in the u.k., home prices rose as the property market got a boost from low borrowing costs and easier access to mortgages. in italy, the unemployment rate rose to a record high in january. shifting over to japan, industrial production grew the most since 2011 indicating the economy is strengthening. jumble. of data but a all thisrning we got data. starting at 8:30 a.m., gdp. at gdp so look we get in theory they refined any little bit. also, personal consumption -- consumpt
of conservative groups seeking tax exempt status. this after the treasury department found 298 applications had been singled out for special review including 100% of groups with tea party or patriot in their name but only 30% of groups with progress or progressive. now republican congressman darrell issa, chair of the house oversight committee wants lernor to testify again wednesday based on new information he has. chairman, welcome back to "fox news sunday." >> thanks for having me back and for covering what we believe is going to be a good fact finding hearing. >> all right. let's talk about that. when you recall low he ed lois o testify, her lawyers said can you call her but she is not going to answer any questions. i understand you have late breaking news. >> we do. her attorney indicates now that she will testify. we've had a back and forth negotiation. but quite frankly, we believe that evidence that we've gathered causes her in her best interest to be summoned to testify. >> lois lernor will testify before your committee? >> according to her attorney. >> this will be on wednesday? >> wed
and railroads and mass transit. it provides more money for job training and preschool and it expands tax credits for an estimated 13.5 million low-income workers and it increases taxes more than $650 billion on higher-income americans and it adds $56 billion in fees for big banks. there are also tax increases for tobacco products and airline passengers. the president's plan in print form arrived up on capitol hill this morning -- this morning. congress prefers to do the budgeting itself, so it's not like whatever the president sent would be accepted but it can be seen as a starting point in the debate over the nation's spending priorities, yet rather than a lot of new ideas in these budget books, critics suggest it's more of the same. the republicans say the president's 2015 budget spends, borrows, and taxes too much, neil? >> michael, thank you. it is ironic right now that all of this is going down on fat tuesday, good reason to party in new orleans, maybe, but minnesota republican congresswoman michele bachmann says no reason to celebrate in washington, so congressman, the bottom line is the p
, totaling almost $4 trillion. it includes new tax hikes to offset additional spending for education and job-training. but republicans say it does nothing to address the nation's fiscal challenges. we'll discuss its approach to helping low income americans, later in the program. israeli prime minister benjamin netanyahu is warning the u.s. and the world against letting iran go ahead with any part of its nuclear program: he spoke in washington, a day after meeting with president obama. >> the leading powers of the world are talking about leaving iran with the capability to enrich uranium. i hope they don't do that because that would be a grave error. it would leave iran as a threshold nuclear power. >> woodruff: netanyahu also said that far from easing sanctions on iran, the world should increase them. he also urged the palestinians to recognize israel as a jewish state, if they really want peace. the process of removing syria's chemical weapons is picking up pace. the dutch diplomat overseeing the operation said today the assad regime has handed over six shipments of toxic agents. she spoke
's efforts to dodge the tax man. a hearing will feature top officials from the justice department. peter cook has got the details. credit suisse is about to have a very highlighted moment in the congressional spotlight. i cannot believe this is welcome to them. >> an unwelcome moment, to be sure. as you just detailed, four top executives at credit suisse will find themselves on the hot seat. about what they knew about the efforts to avoid paying taxes and what they have been doing at the bank to clean it up ever since. the report assembled by the staff of the senate's permanent subcommittee includes they employed a range of banking practices that facilitated tax evasion by u.s. customers. they had 22,000 customers with swiss accounts with $10 billion to $12 billion. the vast majority was undeclared to the irs. the investigation details the lengths to which the bank tried to shield its american customers. swiss bankers flew to the u.s. sometimes on tourist visas to recruit new clients. the bank helped create shell accounts to hide identities and even opened a branch office in the zÜrich airpo
president obama today said he's going to get rid of the most outrageous tax loophole in america. will he actually do it this year? jeanne moos shows us the latest workout trend. >> nice job, nice job. there's this kid. coach calls her a team player. she's kind of special. she makes the whole team better. he's the kind of player that puts the puck, horsehide, bullet. right where it needs to be. coach calls it logistics. he's a great passer. dependable. a winning team has to have one. somebody you can count on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. her. them. phone: your account is already paid in full. oh, well in that case, back to vacation mode. ♪boots and pants and boots and pants♪ ♪and boots and pants and boots and pants♪ ♪and boots and pants... voice-enabled bill pay. just a tap away on the geico app. ♪ huh, 15 minutes could save you 15% or more on car insurance. yup, everybody knows that. well, did you know that some owls aren't that wise. don't forget about i'm having brunch with meagan tomorrow. who? seriou
to power through the spending caps of 2011 of the payroll tax holiday is indicative of the economy. of those such help to bring about the deficit reduction as a balanced approach to making progress to sustainability there were necessarily compounded by the sequestration in march and with the shutdown in october it took a large bite out of fourth quarter gdp growth as well. i will say more about fiscal policy and a moment but that it would be considerably less of a head wind in the years to come. before i move on to the more forward part of my talk i want to make one last point about the economy's progress to put it in a context of what we have seen at around the world with recovery from financial crisis. we know it is longer, harder, the more difficult and with that regard to prepare the united states to compare to the 11 other countries that winters systemic financial crisis as identified and what you see with the working age population and.it within four years which is considerably faster than the normal ted years verses' historic data. is a major -- the measure of the important
. >>> u.s. senate panel investigating tax evasion has accused credit suisse of using cloak and dagger tactics that belong in a spy novel. it alleges c.s. bankers made 150 trips to the u.s. between 2002 and 2000208 orchestrate a large scale tax evasion scheme. some of the things credit suisse is accused of operating remote controlled lifts, and bankers accused of filing false visa applications pretending they were tourists and advising clients how to dodge u.s. tax laws. the senate hearing kicks off late today, shares trading at the bottom, just down just over 3% in trading today. >>> the firm came out to say it considers its insurance policies for wealthy u.s. citizens to be tax compliant. credit suisse has been preparing for investigations into its products known as insurance wrapper wrappers. the long arm of the u.s. treasury, by the way good morning, everybody. you didn't say good morning. >> good morning, sorry, good morning. >> good evening if you're watching in sipping apore as well. good e-mails coming out of credit suisse or conversations out of the investigation? >> it's a li
. the majority of the accounts weren't reported for tax purposes to the irs. and the fed wants more information from troubled bitcoin exchange mt. gox, the "wall street journal" saying mt. gox received a subpoena from federal prosecutors in new york last month to preserve certain documents once the world's biggest bitcoin exchange mt. dpox has gone offline. the business is at a turning point, there's a lot of worry the entire business may be bankrupt and gone forever. the controversy surrounding mt. gox putting a lot of pressure on bitcoin prices, $597.75 is where things are trading now. that was a stock, almost like a stock, it's not a real currency sorry to say, joe. >> now you tell us. >> now. >> now you tell us. >> i am not a bitcoin fan. i believe electronic currency of some sort may flourish in some way. i don't know if bitcoin is the way. >> i thought you were a bitcoin advocate. if now your' saying -- >> i'm fascinated by the conversation around bitcoin. >> you know i'm needling you because you have talked about it a lot. i hope no one mistook what you were saying for like an endorsemen
kind of world war ii camp. allen with al jazeera, north idaho. >>> a tax break for more than 13 million americans, president obama set to unveil the new budget this morning and tell you who will benefit the most if that proposal makes it through congress. plus you might call it thc-tv, marijuana commercials could be coming to a television society near you and life gave them lemons and they made lemonade and going to school. >>> if you think durant is the mbp lebron says not so fast and we will talk about the record in south beach. ♪ welcome back to al jazeera america, i'm stephanie sy, israel's prime minister is pushing back against u.s. diplomacy in the middle east and met with president obama on monday and discussed a framework for reaching a pack with the palestinian and netanyahu had frustration for, syria and iran and to have compromise israel must be secure and netanyahu will deliver the keynote speech to the american, israel publish affairs and apac is the largest and pro-israel lobbying group in the u.s. and as you can see libby casey is joining us from washington and good mor
for the tax rates to pay for that. most definitely. caller: our roads are awful. we have a lot of state roads. repair work would really help. where else do you see jobs available besides infrastructure spending? where else do you think the government can help create jobs? caller: i think in the technology,system, private sector. help bringons would about income to a level of being able to take care of your family, cover your living expenses. if that was not for unions, we would not be able to watch you on television right now. so they can rip off citizens and keep low wages and make big profits. thank you. calling in from philadelphia, pennsylvania. fish and sam says the president's budget should be how not to spend others money. also, dean writes in, too bad the gop will kill his budget. are they totally heartless? commentspage, several on that. allen writes in on her thoughts on the president's budget plan. she says stop messing around with other people's lives. we will continue to bring you comments. we want to hear you on the phone. the phone lines are open. ruben in philly on the line fo
: this rallies the base and expands college access and education for young, poor kids and expanding tax cuts for those in poverty and similar measures the democrats ran on and appreciate. it is a policy document used as a tool for 2015-2016 the final years of the obama presidency. we wants to get something done before leaving. he is figure out a policy plan for the final two years. >> host: is it realistic this plan can get through congress? >> guest: no, i don't think anyone expects the entire budget will pass. i don't think that is that has ever happened. but some things might have opportunity for bipartisan compromise. the business tax code reform would generate revenue to build bridges and roads and generate jobs and that is similar to a proposal that dave camp, the chairman of the house released last week. so ideas in the budget could be ground for compromise. >> host: does he indicate where he is going to act alone? >> guest: there is not so much of that. the president has a robust executive action plan he is implementing and he is taking action and has many more this year. the whiteho
of low interest rates. then on the government side we have less drag from tax increases and spending cuts than we had last year. so i think this year will be noticeably stronger than it was in 2013. >> let's get a quick thought on housing. i agree with most of what you said there bquibble with the ida that incomes are going up very much. there is i'm told a bit of a squeeze on affordability. incomes have not gone up enough to keep up with rising mortgage rates and rising prices. is housing going to slow markedly this year because of that? >> well, certainly affordability has declined from where it was a couple of years ago where we had mortgage rates at 3.25% and prices were down tremendously. however, prices are still down by about 1/5 from where they were at their peak in 2006. we are seeing some job growth, some income growth, and we do see lenders a little bit more willing to lend. so i think although affordability is down somewhat, it's still pretty good on a historical basis. and i think that will be enough to bring people into the housing market. >> thanks a lot, gus. appreciate yo
: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com >> our mayor is a great guy, he's an excellent mayor. this is eric garcetti meeting some supporters. and there is you. [laughter] >> eric garcetti holding someone's baby, there is rob for the holding someone's baby. neil: not only is the toronto mayor popular there, but here as well. he's popular in toronto. his poll numbers are looking better. maybe because traumas economy is looking better. maybe thanks to the crazy mayor that cut taxes and rules and regulations. they are standing by loyal to achieve. a lesson for our president. it is time for no pain and no gain. got a message that is resonating with our big i? >> it's not resonating. it's one thing to give flowery speeches. at some point you must deliver. let's be honest. even people that are wholeheartedly behind obama -- [laughter] th
direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com afghanistan, in 2009. orbiting the moon in 1971. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protecon. and because usaa'commitment to serve current and former military members andheir families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. >> our mayor is a great guy, he's an excellent mayor. this is eric garcetti meeting some supporters. and there is you. [laughter] >> eric garcetti holding someone's baby, there is rob for the holding someone's baby. neil: not only is the toronto mayor popular there, but here as well. he's popular in toronto. his poll
it is the best poverty fighting idea the government has had in decades. the earned income tax credit. now president obama wants to expand it. in aore, let's bring senior economist for bloomberg government, which analyzes how policy decisions affect business. the earned income tax credit or raising the minimum wage, which works better? going to answer that question specifically. i'm going to tell you why people like the earned income tax credit. they like it because it encourages work. pullingsponsible for six and a half million people out of poverty in 2012, 3.3 million that were children. support ratetisan it has the effect the democrats like any incentives that republicans like. >> you are punting and not answering that. for the sake of argument, run through the things that people like about raising the minimum wage. we have seen that those receiving minimum wage at a higher level feel good about their lives and feel like they don't have to work two jobs anymore, and there are all these psychological benefits that have knock off effects which other economists describe as positive. >> th
taxes for low income families, and increase spending on bridges, roads, and job training. expected toare block the president's budget and offer one of their own. secretary of state john kerry has landed in kia for talks about the future of ukraine. itsce on reducing dependence on russian natural gas, we ask mike to hear from both senator kerry and president obama. putinheard from vladimir for the first time since the outbreak of the prices -- crisis. ryan joins us now from kiev. how did you interpret vladimir putin's remarks? >> the main thing about 's presst putin conferences that we got a sense of what he is thinking. ultimately copy is the only person who knows where this conflict is going to go. for the take away was time being he has no intention to escalate things. he said several things during that press conference, one, he said that he saw no need to send troops into ukraine yet. that was a bit cryptic, because ukraine says there are already 16,000 russian troops in crimea. what he needs, i think, is beyond crimea. into eastern ukraine. he also said that russia has no intention o
in crimea and eastern ukraine. president obama rolled out his big tax and spend budget today. it's precisely what the economy doesn't need. former senator jim demint is going to join us and talk about the budget and give us his response to the new piece in this left leaning politico article that asks if mr. demint is the most hated man in washington. of course he isn't. don't forget, free market capitalism is the best path to prosperity. we need a little bit in the ukraine. i'm kudlow and i'll be right back. in a world that's changing faster than ever, we believe outshining the competition tomorrow quires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. >>> secretary of state john kerry promised $1 billion in sanctions to the fledge lg government. are we going to let stand the russian army invasion and the
as well as tax increase, republicans wanting lower taxes and less of that spending. they will fight it out in the midterm elections and then we may return to budget talks and some sort of accommodation in 2015. >> john, how real is the return of the conversation about tax and interest? i say it in part because it's in some of these bills, but also because the front page of the "wall street journal," see this right here, blowout call for big tycoons that talked about the payout for people like leon black, $560 million with his income, 465 for steven schwartzman and others. i do know it's been put back in some of the bills, but this has been a policy debate we've been talking about for about five years now. >> there's a lot of momentum behind this issue. i would not expect it to pass this year. one of the things that adds to its momentum in terms of the long-term, which we really get to a tax reform discussion which is not going to be this year, is that dave camp, the republican chairman of the ways and means committee, included this interest in his tax reform bill. the administration will h
obama unveils his $4 trillion budget. what's his plan for spending and new tax in the coming year? >>> tough turn around. the radio shack will close over 1,000 stores as it tries to stem a sharp slide in sales. can the troubled neighborhood electronics retailer reverse the trend in this ultracompetitive environment? all that and more tonight on "nightly business report" for tuesday, march 4th. >>> good evening, everyone. russia retreats and wall street gets a massive relief rally. investors bought up stocks after russian president putin pulled troops back from the border of ukraine, allaying worries about an imminent military showdown. the major averages surged 1.5% or more, posting their biggest gains so far this year. even setting a new record close for the s&p 500. now those sky-high gains wiped out all of yesterday's losses and even russia's stock market which lost 12% on monday rose more than 6% today. here's a look at the closing numbers. 9 dow soared 227 points, the nasdaq ended at a fresh 14-year high adding almost 75 points and the s & p jumped 28 points to 1873. that's a
: the obama administration is rolling out its 2015 budget and singing the familiar tune. can use a tax hikes? cheryl: oil prices reversing course, down 4% after closing at the highest level in five months yesterday. commodity analyst matt smith and phil flynn saying get used to this volatility. the energy burrito and the mighty fallen coming up next. when does your work en does it end after you've expanded your business? after your company's gone public? and the capital's been invested? or wn your compan's bought another? is it over after you' given back? you never stop achieving. that's why, at barclays, our ambition is to always realize yours. coach calls her a team player. she's kind of special. she makes the whole team better. he's the kind of player that puts the puck, horsehide, bullet. right where it needs to be. coach calls it logistics. he's a great passer. dependable. a winning team has to have one. somebody you can count on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. her. them. cheryl: reversal of fortune in the energy it,
calls for increased spending on education. it extend tax kits to lower-income americans including expanding the earned income tax credit. house speaker john boehner is the one who called it irresponsible. remember, there whats not been a budget passed by congress since 2009. >>> president obama heads to connecticut with his push to raise the minimum wage with central connecticut state university he'll be joined by four governors all in favor of increasing the minimum wage. >> if you like your health plan, you may be able to keep it a little longer. "the washington post" says the obama administration is rewriting affordable care act rules again to let americans keep their plans for up to three more years, even if those plans no longer comply with the law. last fall, the white house gave option of letting policy still be sold in the short term even if they were technically illegal. >>> happening today, the house is set to vote for the 50th time on a modification to obamacare. this would be push back the original mandate for one year and making that penalty zero. this is the first su
're up early. up lat thinking up game-chaing ideas, ke this: dozens of tax free zones across new yorate. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com >> from our fox business studios in new york, herr is gerri willis. gerri: the top u.s. consumer watchdog is calling for a move that will shake up the consumer financial protection bureau. the concern about people's access to accurate credit information has led them to urge banks to give free copies of credit scores. not reports that scores, to consumers. here to win is the president of capital management her in line, welcome to the show. what do you make of this? they're arguing that people need access to their credit scores. >> certainly. you have your credit report and your fica scored. you might get to climb because you're tran-fives for as little so did have access to information so the individual most entire picture. less than 20%
, that is senator bob mennendez. a possible tax break for 13 million americans. president obama unveiling his new budget. we will tell you if it gets an icy chill on capitol hill when that proposal makes it through congress. >> when i first started the learn with ms. sally, it was hard. it was hard. but i -- this is what i wanted to do. >> fighting illiteracy in adults. one man's journey just to learn how to read. al jazeera america gives you the total news experience anytime, anywhere. more on every screen. digital, mobile, social. visit aljazeera.com. follow @ajam on twitter. and like aljazeera america on facebook for more stories, more access, more conversations. so you don't just stay on top of the news, go deeper and get more perspectives on every issue. al jazeera america. >>> any minute now, israel's prime minister is set to address a key group of lobbyists. this is senator bob mennendez addressing the crowd. benjamin netanyahu will deliver his speech to the american/israel public affairs committee, one day after a closed door meeting with the president. they discussed reaching an agreemen
later. ryan chilcote live on the phone from kiev. next, i'm going to take a thatat the tax price rate zara has to thank for that. ♪ >> first. bloomberg. in london.k barton this is "on the move." we are streaming live on your tablet, your phone and now any windows phone as well. it has the best profit margins in the industry, at least in part due to tax loopholes. loop holet tax benefit from? claimis -- a sickly, they the rights to the brand names of the in the text brands -- of the brands. when they have stores in rome or london or paris, the subsidiaries have to pay substantial royalties into this unit in the netherlands. that has the effect of moving billions of dollars of income, taxable income out of those countries and into the netherlands and switzerland, where they have a tax advantage. >> i suppose that affects margins in a different way in different countries, to? countries,fferent too? >> in the netherlands are switzerland they have very low tax rates. in italy and the u.k. and france and germany, it european markets their profit margins have been between three percent an
. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here.xpand here. or start a new business here... and pay no tax for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com coach calls her a team player. she's kind of special. she makes the whole team better. he's the kind of player that puts the puck, horsehide, bullet. right where it needs to be. coach calls it logistics. he's a great passer. dependable. a winning team has to have one. somebody you can count on. somebody like my dad. this is my dad. somebody like my mom. my grandfather. i'm very pround of him. her. them. lou: a powerful winter storm, shutting down washington dc along the eastern seaboard. the snowplows are doing their jobs. nevada had to be a thrill and according to one data company, but daiquiri number almost $6 billion because of the added expense and missed work days. joining us now is the "a-team." fred barnes, both a fox news contributor and lt's
early. up late. thinking up game-changing ideas, like this: dozens of tax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free plan. there's only one way for your business to go. up. find out if your business can qualify at start-upny.com if you have a buness idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a reali. start your business today with legalzoom. lou: a least one place the united states and russia get along. aboard the international space station the ukraine crisis has little effect on the one american and two cosmonauts one is caribbean does -- scheduled to depart on monday. charles -- saying right now everything is nominal with our relationship with the russian speaking only in terms of the space agency. tom jones says it is important not to keep it a political issues. >> what they lack is the control software we use 2. and never and controlled the station so t
budget. he's trying again today. we'll take a look to see who would be paying more in taxes if he gets his way this time. >>> renowned bond fund pimco has been in the headlines lately with its headline grabbing management changes. we're going to talk with its new deputy chief investment officer about what is ahead for pimco and what was her reaction to that "wall street journal" article saying that bill gross made pimco a tough place to work for. we'll find out coming up. >>> and he's just days removed from serving as the ambassador to russia. michael mcfaul has gone eye all to eyeball with vlad peimir put. did putin just blink or did he wink? (music) defiance is in our bones. defiance never grows old. citracal maximum. calcium citrate plus d. highly soluble, easily absorbed. [ banker ] sydney needed some financial guidance so she could take her dream to the next level. so we talked about her options. her valuable assets were staying. and selling her car wouldn't fly. we helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today..
's tax system but it's unlikely to advance this year. republican dave camp chairs the house ways and means committee. he called for lowering the top income tax rate from 39.6% to 25%. he'd also impose a ten percent surtax on earned incomes over $450,000 dollars. house speaker john boehner would not say if the party supports the bill, and he refused to discuss the details. >> blah, blah, blah, blah. listen, there's a conversation that needs to begin. this is the beginning of the conversation. the idea of tax reform is to get our economy going again, provide better, more economic growth, more jobs, and higher wages. the way you do that is bring down rates. and to bring down rates you clean out a lot of the garbage that's in there and the special interest issues that are in there. >> ifill: the last major overhaul of the tax code was in 1986. that data breach at target stores before the holiday shopping season took a hefty toll on the company's bottom line. profit dropped 46% in the fourth quarter, and revenue slipped more than 5%. the data breach allowed hackers to steal personal i
tuesday morning. it increases tax credits for the working poor and expand early childhood education. the president also commented on russia's intervention in ukraine. this is about 15 minutes. 2>> good morning, everybody. i am here at powell elementary school and just had a chance to see some of the outstanding students here. i thought it was an appropriate setting for me to say a few words about the budget i sent to congress this morning because obviously the budget is not just about numbers. it's about our values. and it's about our future. and how well we are laying the groundwork for those young children that i was with a few moments ago to be able to succeed here in america. these kids may not be the most excited people in town on budget day, but it is designed with their generation and future generations in mind. in my state of the union address, i laid out an agenda to restore opportunity for all people, to uphold the principle that no matter who you are, no matter where you started, you can make it if you try, here in america. this opportunity agenda is built on four parts.
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